NJJ Capital, the investment company owned by telecoms figure and billionaire Xavier Niel, has agreed to purchase Turkcell’s Ukrainian units for $500 million.
Bloomberg reported, Niel said the deal “makes sense” as the Turkcell’s Ukrainian operations border Niel’s operator group Iliad in neighbouring Poland, noting there are large amounts of roaming traffic between the two nations.
Niel also noted the half a billion dollar price tag was “cheap” compared to the profits of Ukrainian operator Lifecell, which NJJ is acquiring. The final price of the acquisition will not be revealed until the deal closes, a time frame was not stated.
The deal was announced in December and gives NJJ control of Lifecell, Global Bilgi and Ukrtower.